The newly launched bitcoin futures on the Chicago-based CBOE Futures Exchange surged above $17,000 on debut day. Trading under the ticker XBT, the January contract opened Sunday at $15,640, and was soon trading at more than $1,000 premium. The contracts do not involve trading actual bitcoin, but allow investors to bet on the future price of the cryptocurrency on the Gemini Exchange. Bitcoin is experiencing an unprecedented bullish rally this year, despite some analysts’ warnings and fears of the cryptocurrency being a “dangerous bubble.”